'strong start to the financial year' - released after market in the hope no one will notice....sheesh!
I disagree with their headline assertion and so does the market. That cash burn is dreadful. Even more concerning their growth appears to be stalling, at least temporarily. Nearing 10% growth QoQ is still attractive, but it's their slowest rate for a while and costs are still exxy.
I also touched on the Cintra alliance, which is currently delivering very little gain for the business.
They need to reign in costs and haven't demonstrated an ability to do this. A capital raise at levels below this will result in significant dilution.
IHR Price at posting:
6.5¢ Sentiment: None Disclosure: Not Held